SEOUL/DUESSELDORF, June 29 (Reuters) - South Korean group
Hanwha may buy insolvent German solar group Q-Cells,
once the world's largest maker of solar cells, a spokesman for
Hanwha Corp said on Friday.

The spokesman said he could neither confirm nor deny a
Korean media report saying that subsidiary Hanwha Chemical Corp
was conducting due diligence on Q-Cells.

The German company, which filed for insolvency in April,
said that its administrator would continue to search for an
investor. Its preliminary insolvency administrator had said that
several parties had shown interest, including domestic and
foreign investors.

Q-Cells, which employs about 2,300 people, became the most
prominent victim so far in an industry shake-out that has
already claimed some of its rivals in Germany and the United
States, including Solon, Solar Millennium
and Solyndra.

China's Hanergy Holding Group said this month that it would
acquire Q-Cells' solar module operation Solibro, but it did note
disclose any financial terms.

Shares in Q-Cells, whose insolvency proceedings are
scheduled to start next week, were up 7.7 percent by 1336GMT, at
0.14 euro.
(Reporting By Joyce Lee and Anneli Palmen; Writing by Christoph
Steitz; Editing by Ron Popeski and David Goodman)

Trending On Reuters

REUTERS EXCLUSIVE

India's main public health programmes, aimed at millions of rural poor, have been in disarray for months because the government changed the way that over $1.3 billion in funds were distributed, according to data and letters seen by Reuters. Full Article | Graphic: India's health funding